The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew, et al. want the D.C. federal district court to hold a status conference to determine how their case “can be most efficiently adjudicated” in light of the CFPB’s petition to the D.C. Circuit for rehearing en banc in PHH.… Continue Reading
The issue of the CFPB’s constitutionality reemerged last week in court and Congress.
On the judicial front, the U.S. Court of Appeals for the D.C. Circuit, in State National Bank of Big Spring, Texas, et al. v. Lew, et al., reversed the district court and ruled that the bank had standing to challenge the constitutionality of the CFPB and Director Cordray’s recess appointment. … Continue Reading
Briefs were filed last week by the “private” and “state” appellants in State National Bank of Big Spring, Texas, et al. v. Lew, et al., the case on appeal to the U.S. Court of Appeals for the D.C. Circuit that includes a challenge to the CFPB’s constitutionality. In August 2013, the district court granted the CFPB’s and other defendants’ motion to dismiss on standing and ripeness grounds. … Continue Reading
A Washington, D.C. federal district court has dismissed the lawsuit filed by Morgan Drexen against the CFPB that alleged the Bureau’s structure was unconstitutional because it violated the Constitution’s separation of powers. Approximately one month after Morgan Drexen’s filing, the CFPB filed an enforcement action against Morgan Drexen in federal district court in California alleging that Morgan Drexen charged unlawful advance fees for debt relief services and engaged in deceptive acts and practices.… Continue Reading
It looks like the court is finally set to rule on the CFPB’s motion to dismiss in State National Bank of Big Spring, Texas, et al. v. Lew, et al., the case still pending in federal district court in Washington, D.C. that included a challenge to President Obama’s recess appointment of Richard Cordray. … Continue Reading